Redwood Parents Nursery School

“Form 990 is available to all of its members for inspection at the organization's office. No review is completed by the governing body other than by the executive director and the treasurer.”

“The compensation for the executive director is reviewed each year by the board of directors. The compensation may be increased by the cost of living index for the san francisco bay area if finances permit. If the board of directors increases compensation in excess of the cost of living index, the increase is posted for two weeks and subject to a vote by the membership. If approved by a majority of the membership, the new level of compensation is implemented.”

“Compensation for teachers is reviewed each year by the board of directors. The compensation may be increased by the cost of living index for the san francisco bay area if finances permit. If the board of directors increases compensation in excess of the cost of living index, the increase is posted for two weeks and subject to a vote by the membership. If approved by a majority of the membership, the new level of compensation is implemented.”

“The organization's governing documents and financial statements are retained at the organization's office and are made available to the public upon request.”

“The organization received land and related structures as a gift on march 5, 1974. The cost basis of these assets is unknown and no records exist to provide documentation for the value of these assets at the time of the gift. No depreciation has ever been recorded on these assets for book or for income tax reporting purposes. Since this gift was made, the land and related structures have always been used, and will continue to be used, as the sole facilities for the school.”